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"Outmoded" parallel schemes of arrangement and a red flag on restructuring costs in Hong Kong
The Court of First Instance has recently helpfully summarised the legal position on schemes of arrangement under both Hong Kong law and English law. …
No If, No But – Will an arbitration agreement always trump a winding-up petition?
In But Ka Chon v Interactive Brokers LLC [2019] HKCA 873, the Hong Kong Court of Appeal dismissed an appeal to set aside a statutory demand arising out …
Grave offences – sale of cemetery sites by bankrupt individual is a transfer at undervalue with intent to defraud creditors
In Yeung Lui Ming v Tang Mo Lin Irene [2019] HKCFI 1848, the Hong Kong Court of First Instance set aside a sale of cemetery sites and a transfer of …
Hong Kong Court considers tests for dishonesty and blind-eye knowledge in dishonest assistance claims
In Re Galleria (Hong Kong) Limited [2019] HKCFI 1877, the Hong Kong Court of First Instance examined the legal principles in relation to dishonesty and …
Let's be civil: Hong Kong court recognises non-common law Japanese insolvency proceeding
In Re Kaoru Takamatsu [2019] HKCFI 802, [2019] HKEC 906, the Hong Kong Court of First Instance has recognised Japanese insolvency proceedings and granted …
No use lashing out over unpaid debts – cosmetics distribution company avoids winding up order despite failing to establish bona fide defence
In Swiss Cosmeceutics (Asia) Ltd [2019] HKCFI 336, Mr Justice Harris of the Hong Kong Court of First Instance declined to wind up a company despite it …
Hong Kong Court spits out ceviche: “objectionable” Peruvian fisheries business Chapter 11 trustee refused common law assistance
In a highly international cross-border restructuring, the High Court of Hong Kong has refused to assist the New York-based Chapter 11 trustee of a …
Foreign companies in Hong Kong: You can't have your cake and eat it too
Summary In the recent decision of Shandong Chenming Paper Holdings v Arjowiggins HKK 2 Ltd, the High Court of Hong Kong has provided further guidance on …
Singapore and Delaware courts adopt Guidelines for Communication and Cooperation between Courts in Cross-Border Insolvency matters
On 1 February 2017, the Supreme Court of Singapore and the United States Bankruptcy Court for the District of Delaware announced that they will formally …
Herbert Smith Freehills publishes Guide to Restructuring, Turnaround and Insolvency in Asia Pacific 2016
Herbert Smith Freehills has launched the new Guide to Restructuring, Turnaround and Insolvency in Asia Pacific (Guide). The Guide provides an overview of …
Recognition of foreign insolvencies at common law: Singapore sets COMI precedent
For the first time, a court has adopted the ‘centre of main interest’ (COMI) as grounds at common law to recognise foreign insolvency proceedings. The …
Better late than never: amendments to the Companies (Winding Up and Miscellaneous Provisions) Ordinance gazetted
By now, you will all be aware of the recently gazetted the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 ("Amendment …
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